Best Mutual Funds to Invest in 2024 growth story in India over the years has been quite impressive, which is why the best mutual funds continue to evolve in the market.
We have several systems that evaluate mutual funds to help investors find the best mutual funds in India. CRISIL is one such system, while Morning Star and ICRA are others.
CRISIL and Morning Star assess mutual funds based on qualitative as well as quantitative factors. They judge mutual funds based on their return on assets (ROAS), size, expense ratio (EOR), standard deviation (SD), etc.
Here is a list of the top mutual funds in India to invest in in 2024.
If you are looking for mutual fund recommendations, we are here for you.
Why invest in Mutual Funds
An open-ended scheme allows investors to buy and sell units at any time. However, in a closed-end scheme, transactions only take place after the investment firm discloses the day's NAV. Diversification
When an investor chooses to invest directly, there is a lot of research that needs to be done. Mutual funds, on the other hand, hold a variety of financial instruments such as bonds, gold, stocks, etc. This makes diversification easier for investors.
Regulated
The Mutual Funds industry is regulated by SEBI, which requires investment firms to submit their performance reports on a regular basis to ensure transparency.
Managed by professionals
The role of a professional fund manager is to monitor the performance of a scheme so that investors can get maximum returns by adjusting the asset allocation in line with market conditions. This is especially important when selecting the best mutual funds to Invest.
Top 5 Large Cap Equity Funds
- Nippon India Large Cap Fund
- HDFC Top 100 Fund
- IDBI India's Top 100 Equity Fund
- ICICI Prudential Bluechip Fund
- TATA Large Cap Fund
Top 5 Mid-Cap Equity Funds
- PGIM India Midcap Opportunities Fund
- Motilal Oswal Midcap 30 Fund
- Edelweiss Mid Cap Fund
- SBI Magnum Mid Cap Fund
- HDFC Mid Cap Opportunities Fund
Top 5 Small Cap Equity Funds
- Nippon India Small Cap Fund
- ICICI Prudential Small Cap Funds
- Kotak Small Cap Fund
- DSP BlackRock Small Cap Fund
- SBI Small Cap Fund
Top 5 Diversified/Multi Cap Equity Funds
- Nippon India Multi Cap Fund
- HDFC Equity Fund
- Mahindra Badhat Yojana
- JM Multicap Fund
- ICICI Prudential Multicap Fund
Best Mutual Funds to Invest in 2024 via SIP
- HDFC Large and Midcap Fund
- Nippon India Large Cap Fund
- Motilal Oswal Nifty Midcap 150 Index Fund
- HDFC Midcap Opportunity Fund
- Motilal Oswal Nifty Small Cap 250 Index Fund
The HDFC Large and Midcap Fund
This fund has invested in India's top 250 companies and is one of the Best mutual funds in 2024. It is suitable for moderate risk-takers who want to get good returns on mid-cap companies for a minimum of 5-7 years.
The fund invests in India’s top 101 to 250 companies. Therefore, those who want to take a risk by investing in the mid-cap of the mutual fund over a period of at least three to five years. The fund invests in India's top 150 companies.
HDFC Mid Cap Opportunity Fund
Those who can absorb a few risks should invest in this mutual fund as it comes in the mid-cap category investing in companies ranked 101- 250 in India and has a mid-cap exposure to invest with a time horizon of 3-5 years.
Motilal Oswal Nifty Small Cap 250 Index Fund
The fund can give you high returns over a 3-5 year period for those who are willing to take some risk. The fund offers high returns because it is a small-cap fund and comes with a high risk. The Motilal osmo nifty small cap 250 index fund gives you the choice of investing in the long-term as the risks do not necessarily lead to high-returns in the short-term.
Smart Tips for Investment in Best Mutual Funds
Invest in a fund that is neither too large nor too small, and whose AUM is roughly the same as that of the category. Funds that are too large or too small can drag down the fund's performance. In any scheme of less AUM, it is difficult to understand the investors and the portion of investments they hold in the fund.
It is important to have a long-term view of the performance of the mutual funds to invest in, as it is always recommended to choose a scheme that has outperformed its peers for 4-6 years, on a regular basis.
Conclusion
Choosing a lower expense ratio can cost you the performance of your investment returns. Always keep your priorities straight and keep in your armory the best Asset Management Company even if it costs you a bit more in management charges, operation costs, etc as compromising on these factors can supersede other important factors such as fund performance, etc.
